Santa Clara, California – (The Hosting News) – January 10, 2007 –
Performance and solutions provider for end-to-end switching and routing, Foundry Networks, Inc., has been granted continued listing on The Nasdaq Stock Market.
The Nasdaq Listing Qualifications Panel indicated that the decision is subject to the conditions that it provide the Nasdaq Hearings Department with further information concerning the results of the Company’s investigation into its historic option grant practices. In addition, Foundry must become current in its delinquent periodic reports, and file any required restatements, by February 12, 2007.
Foundry expects to be ready to make the required filings and become current by February 12, 2007. However, Foundry will need to obtain concurrence by its auditors, the timing of which is outside our control. Therefore, while we will be endeavoring to become current by February 12, 2007, there can be no assurance that we will be able to meet these conditions. During this extension, Foundry’s shares will remain listed on The Nasdaq Global Select Market.
Foundry’s NetIron product family is designed to provide wire-speed performance for IP/MPLS metro and core routing combined with advanced packet processing and traffic management capabilities. Based on robust, high availability system architectures, these routers are designed to meet the current and future needs of converged service provider networks. One of the latest additions to the NetIron router family, the XMR 32000 core router offers industry leading performance and scalability for advanced IPv4, IPv6 and MPLS service delivery.
Foundry Networks, Inc. is a provider of high-performance enterprise and service provider switching, routing, security, and web traffic management solutions including Layer 2/3 LAN switches, Layer 3 Backbone switches, Layer 4 – 7 application switches, wireless LAN and access points, access routers and metro routers. Foundry’s 10,000 customers include the world’s premier ISPs, metro service providers, and enterprises including e-commerce sites, universities, entertainment, health and wellness, government, financial, and manufacturing companies.
To learn more about the Foundry Networks, Inc., please visit: www.foundrynetworks.com.